Acquisition of controlling interest in Zetes by Panasonic: competition authorities approval

Brussels, 14 April 2017: Zetes was informed on 14 April of the approval by the Belgian competition authorities of the acquisition of a majority stake in Zetes Industries SA by Panasonic.

This approval means that the final condition preventing the transaction from taking effect is met. This transaction is therefore now finalised and the formalities for the completion of the acquisition of the initial 50.95% stake will be fulfilled on 27 April 2017.

As announced on 22 December 2016, Panasonic will then launch a mandatory tender offer, through one of its subsidiaries based in Europe, followed, if conditions are met, by a squeeze-out bid for the remaining shares issued by Zetes that are not yet owned by Panasonic at that time. Panasonic has also indicated that the mandatory tender offer will be made at a price of EUR 54.50 per Zetes share.

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Any questions should be addressed to:

Requests from Europe

Panasonic Europe
Corporate Communications
[phone]

Requests from elsewhere

Panasonic Corporation
Public Relations Department
[phone]

Zetes
Financial Communications Manager
Sarah Dheedene
[phone]
[e-mail]